Carson Advisory Inc. Decreases Holdings in Chevron Co. (NYSE:CVX)

Carson Advisory Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,064 shares of the oil and gas company’s stock after selling 102 shares during the quarter. Carson Advisory Inc.’s holdings in Chevron were worth $1,054,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Oak Family Advisors LLC increased its holdings in Chevron by 4.4% in the 3rd quarter. Oak Family Advisors LLC now owns 7,556 shares of the oil and gas company’s stock worth $1,274,000 after acquiring an additional 320 shares during the last quarter. Modus Advisors LLC boosted its stake in Chevron by 3.5% in the 3rd quarter. Modus Advisors LLC now owns 16,118 shares of the oil and gas company’s stock worth $2,718,000 after purchasing an additional 546 shares during the period. Golden State Equity Partners boosted its stake in Chevron by 14.9% in the 3rd quarter. Golden State Equity Partners now owns 21,020 shares of the oil and gas company’s stock worth $3,544,000 after purchasing an additional 2,731 shares during the period. Signet Investment Advisory Group Inc. boosted its stake in Chevron by 3.8% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 10,800 shares of the oil and gas company’s stock worth $1,821,000 after purchasing an additional 392 shares during the period. Finally, Avestar Capital LLC boosted its stake in Chevron by 20.0% in the 3rd quarter. Avestar Capital LLC now owns 6,125 shares of the oil and gas company’s stock worth $1,033,000 after purchasing an additional 1,022 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX traded up $1.10 during midday trading on Thursday, reaching $160.73. 8,594,949 shares of the company’s stock traded hands, compared to its average volume of 8,447,272. The company has a market cap of $298.52 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 2.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a 50 day moving average of $157.04 and a 200 day moving average of $151.74.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.55 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho raised their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. TD Cowen lifted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Finally, Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.